Daily News Wrap-Up: NHPC’s Auction for 3 GW ISTS-Connected Solar Projects
Ministry proposes a procedure to verify the captive status of power projects
November 7, 2023
Solairedirect Energy India (ENGIE), Avaada Energy, Hazel Hybren (Mahindra), Jakson, Sprng Energy, Green Infra Wind Energy (Sembcorp), Apraava Energy, and Hinduja Renewable Energy have won NHPC’s auction to develop 3 GW of interstate transmission system-connected solar power projects across India. Solairedirect won the total quoted capacity of 250 MW at a tariff of ₹2.52 (~$0.0303)/kWh. The rest of the winners, Avaada (1,000 MW), Hazel Hybren (300 MW), Jakson (400 MW), Sprng Energy (250 MW), Green Infra Wind Energy (300 MW), Apraava (250 MW), and Hinduja (250 MW) quoted ₹2.53 (~$0.0304)/kWh.
The Ministry of Power has proposed a draft procedure to verify the captive status of power-generating projects supplying to users located across multiple states, defining the ownership and consumption terms for captive power projects in the country. The draft proposal is open for stakeholder suggestions until December 1, 2023. Verification of consumption criteria will be based on the net electricity generated from the generating units in a generating station, i.e., gross electricity generated less auxiliary consumption, identified for captive use.
NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has invited bids for the balance of the system (BoS) package for the 1,080 MW Inter-State Transmission System-connected wind energy project in Karnataka. The last date for the submission of bids is December 4, 2023. Bids will be opened the same day. The wind BoS development package does not cover the provision of wind turbine generators, civil construction, or the installation of unit substations and Supervisory Control and Data Acquisition systems.
China-based photovoltaic-grade polysilicon manufacturer Daqo New Energy Corporation has recorded a net income of $44 million in the third quarter (Q3) of the financial year (FY) 2023, a year-over-year (YoY) decrease of 92.5% as compared to $590.4 million. The company recorded a revenue of $484.8 million, a 60% YoY decrease from $1.22 billion. Daqo said the drop in revenue was primarily due to a decrease in Average Selling Price mitigated by an increase in polysilicon sales volume.
Renewable energy solutions provider KPI Green Energy posted a net profit of ₹347.5 million (~$4.2 million) in the second quarter (Q2) of FY 2024, an increase of 64% YoY from ₹211.6 million (~$2.5 million). The company’s total income for the quarter stood at ₹2.16 billion (~$25.9 million), a rise of 35%, compared to ₹1.6 billion (~$19.2 million) during the same period last year. The earnings before interest, taxes, depreciation, and amortization for the July-September period was ₹720.4 million (~$8.6 million), a YoY increase of 36%.
REC Power Development and Consultancy, a fully-owned subsidiary of REC, has invited bids to establish an Inter-State Transmission System for the evacuation of hydropower from Shongtong Karcham (450 MW) and Tidong (150 MW) hydroelectric projects in Himachal Pradesh. The last date for the submission of bids is November 11, 2023. Bids will be opened the same day. Bidders must pay a non-refundable bid document fee of ₹500,000 (~$7,000) plus an 18% GST.
REC Power Development and Consultancy, a fully-owned subsidiary of REC, has floated two tenders to establish an inter-state transmission system to evacuate a cumulative 11 GW of power from Renewable Energy Zones in Rajasthan under Phase – IV. The developer should ensure that all aspects of the project, including equipment, facilities, components, and systems, are designed, constructed, and tested according to the terms outlined in the transmission service agreement.
Researchers from the Monash University in Australia and the Royal Melbourne Institute of Technology have unveiled a lithium-sulfur (Li-S) battery design with a nanoporous polymer-coated lithium foil anode, capable of reducing the amount of lithium required in a single battery and significantly improving the number of times the battery could be cycled. Li-S batteries have gained popularity due to the use of metallic lithium and sulfur to deliver more energy per gram than traditional lithium-ion batteries.